my thoughts on a Bitcoin short position vs my bullish scenario

in #bitcoin2 years ago

I'll keep it simple: I like bull runs, but we need solid evidences and reasons to jump in; yet I can't see those evidences, there are some which I discuss here as my B scenario, but first my bearish point of view:

WhatsApp Image 2022-07-06 at 2.55.45 AM.jpeg

the daily chart of Bitcoin BTC/USD in Kraken market.
a hidden bearish divergence pushed the price to the lowest levels this year, a second attempt to the bottom of the support zone.

Bullish scenario for BTC:

WhatsApp Image 2022-07-06 at 3.03.32 AM.jpeg

the bullish divergence in the composite indicator and price, not yet confirmed and needs a candle confirmation, indicator confirmation or my favorite method: trend confirmation. so I will wait till the purple downtrend line breaks, then 37k is my target upward.

and what if both scenarios happen?! :) first I enjoy the short and still have the opportunity to take the bull ride... money rains mates!

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